Trustee Process Clause Samples
The Trustee Process clause establishes the legal mechanism by which a third party, known as a trustee, may be required to hold or transfer property or funds on behalf of a creditor to satisfy a debt owed by a debtor. In practice, this often involves a court order directing a bank or employer (the trustee) to withhold assets or wages from the debtor and remit them to the creditor. This clause ensures that creditors have a means to collect debts by intercepting assets that would otherwise go directly to the debtor, thereby providing an effective remedy for enforcing judgments.
Trustee Process. A writ or other process naming Lender as trustee for any assets of Borrower or any Guarantor is served upon the Lender.
Trustee Process. The service of any process upon any Lender seeking to attach by trustee process any funds of any Borrower on deposit with any Lender.
Trustee Process. If there occurs service of any process upon any Agent or Lender seeking to attach by mesne or trustee process any funds in excess of $3,450,000, individually or in the aggregate, of a Loan Party on deposit with such Person unless such service is fully satisfied, released, vacated, discharged or bonded over within 60 days;
Trustee Process. The service of any process upon the Bank seeking to --------------- attach by mesne or trustee process any funds of the Borrower on deposit with the Bank in an amount which exceeds One Hundred Thousand Dollars ($100,000.00), which is not dismissed within thirty (30) days.
Trustee Process. The service of any process upon the Agent or any Lender seeking to attach by mesne or trustee process any funds of the Borrower on deposit with the Agent or such Lender.